7 Apr 2015
USD/MXN consolidating near 14.90
FXStreet (Edinburgh) - Despite the generalized bud tone around the greenback, USD/MXN is giving away earlier gains and is now looking to consolidate in the 14.90 area.
USD/MXN bounce off 14.75
After dipping to 9-week lows near 14.70, the pair is attempting to regain previous higher levels, although the Mexican peso remains resilient and the recent upside in the US dollar seems insufficient to lift spot further so far.
Ahead in the week, the FOMC minutes appears as the main risk event for the pair via the dollar, whereas Consumer Confidence (Wednesday) and inflation figures are also due in the Mexican economy.
USD/MXN important levels
The pair is now losing 0.08% at 14.9072 with the immediate support at 14.7692 (low Apr.3) ahead of 14.7568 (low Apr.6) and finally 14.7303 (low Feb.6). On the flip side, a breakout of 15.0348 (high Apr.3) would expose 15.1603 (high Apr.2) and then 15.3337 (high Apr.1).
USD/MXN bounce off 14.75
After dipping to 9-week lows near 14.70, the pair is attempting to regain previous higher levels, although the Mexican peso remains resilient and the recent upside in the US dollar seems insufficient to lift spot further so far.
Ahead in the week, the FOMC minutes appears as the main risk event for the pair via the dollar, whereas Consumer Confidence (Wednesday) and inflation figures are also due in the Mexican economy.
USD/MXN important levels
The pair is now losing 0.08% at 14.9072 with the immediate support at 14.7692 (low Apr.3) ahead of 14.7568 (low Apr.6) and finally 14.7303 (low Feb.6). On the flip side, a breakout of 15.0348 (high Apr.3) would expose 15.1603 (high Apr.2) and then 15.3337 (high Apr.1).